I love the town, but I guess that my point is that it has substantial challenges as a full time local.

Austin's real estate market is challenging but rewarding, and you're well on your way to success.

Answer sure.. have to check if there is a due on sale clause or if you have a PG to the orignal seller.. that mortgage stays in your name unless there is a formal assumption  Maybe the example is more challenging for a house as the property.Ex. with vacant land - seller finances to me $20k with 5% down and $1k/moCan I after 1-2 months, then resell the land to a cash buyer for $25k, pay off the original $20k and pocket the $5k?

In my experience, finding cash-flowing deals on-market can be challenging here (1% rule can be hard to find) but not impossible.

I’d appreciate any input you can offer on everything from financing to construction challenges.

Challenges?

Challenges?

LTRs with long term conventional financing and standard management aren't really cash flowing anywhere right now. sure, there are lower cost markets that look better on paper, but there are costs associated with those supposedly cheap markets as well - deferred maintenance, more challenging tenant base, higher cost turnovers as a percentage of the rent.2. i wouldn't pick a random market thousands of miles away based solely on statistics or numbers. 

Challenges?

I think this will be much more of a challenge than you think.